The social commerce sector in India has the potential to grow to twice the size of the current e-commerce market within ten years, a recent report by Bain & Company, in partnership with Sequoia India says. The report, titled ‘The Future of Commerce in India – the rise of social commerce’, states that India’s social commerce market has a Gross Merchandise Value (GMV) of $1.5 to $2 billion and that it has the potential to reach $60 to $70 billion by 2030, driven by formats ranging from conversational commerce on chat platforms to video-led commerce, or a vibrant social reseller community.
Social commerce has been democratising e-commerce by connecting brands, consumers, and sellers on a single platform. Leading this revolution is the three-year-old social reselling platform, GlowRoad.
Founded in 2017 by Dr. Sonal Verma, Kunal Sinha, and Shekhar Sahu, along with Nitesh Pant and Nilesh Padariya, GlowRoad is a social commerce platform that lets users resell products directly from manufacturers and suppliers through social media apps like Facebook, Instagram and WhatsApp. GlowRoad manages the entire process from managing suppliers, payment, shipment, returns, etc, letting users just to share and earn.
The founding team of GlowRoad
How it works
GlowRoad aims to help suppliers who have good quality products at a great price reach the maximum number of customers at the lowest cost. Whether a business is old or new, online for the first time, or even set up in remote locations, GlowRoad has enabled hundreds of suppliers to scale up their business phenomenally. All that a supplier (manufacturer or stockist) needs to do to start selling is to sign up and upload their digital catalog.
The resellers using the GlowRoad app then choose the products they want to sell or think can sell, and start promoting them in their own networks over WhatsApp or social media platforms like Facebook, Instagram. If someone places an order for products shared by the reseller, GlowRoad takes care of delivering the product and collecting the money, and submitting the profits to the reseller’s bank account. So a reseller makes money without having to invest in buying inventory. This model is also called Dropshipping.
Suppliers on GlowRoad offer resellers goods at wholesale prices. The resellers then decide what margin to charge on top of that. Resellers can make an online storefront at no cost on the GlowRoad platform, and market it through WhatsApp and Facebook groups or social circles. GlowRoad monetises by charging its suppliers commission on sale and resellers can unlock more premium features for a price.
Simply put, the reseller gets to earn from home based on the number of sales they make for products sourced from suppliers, via their own channels. While Fashion is the biggest category on GlowRoad, with Indian ethic wear being the most popular item in it, jewelry and cosmetics are also very popular.
Lowered costs, no…
Read More: How this reselling platform is disrupting the social commerce space in India